Disposed – Lincoln Village Apartments
Equity Partner
48 Unit Apartment Complex
Columbus, OH
Old Village was acquired in August 2015 before being repositioned as Lincoln Village. This 48 unit apartment complex consists of 6 one bedroom units, 34 two bedroom units and 8 three bedroom units. Located just 10 miles from downtown Columbus with easy access to major highways, and directly across from a large retail shopping center. The prior owners, absentee owners from Hawaii, did not have a capital budget, causing the property to have a significant amount of deferred maintenance. The plan for this property has been to bring the down units to rentable condition, upgrade the exterior of the property, bring rents to market value as the existing leases expire.
Investor Level Return: 32% over 18 months